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The following is the balance sheet at acquisition for G Company: All of G Company's net assets and liabilities approximated fair value except for inventory

The following is the balance sheet at acquisition for G Company:

All of G Company's net assets and liabilities approximated fair value except for inventory which had a fair value of $85,000 and Land which had a fair value of $140,000. How would you calculate goodwill if the purchase price was $530,000?

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